March 12, 2009
Financier Bernie Madoff pleads guilty to one of the largest frauds in Wall Street's history.
Commentary
Commentary
On March 12, in the year 2009:
Financier Bernie Madoff pleads guilty to one of the largest frauds in Wall Street's history.
A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.
Why March 12, 2009 matters:
Financier Bernie Madoff pleads guilty to one of the largest frauds in Wall Street's history.
What began on this day left a lasting mark on history. The effects were felt immediately and continued to shape events, ideas, and lives long afterwards.
Historical context: March 12, 2009
Contemporary history shows how global connectivity, digital tools, and shared knowledge continue to reshape culture, work, and learning.
The event on this day: Financier Bernie Madoff pleads guilty to one of the largest frauds in Wall Street's history.
Source: https://en.wikipedia.org/wiki/Ponzi_scheme (Wikipedia, CC BY-SA)
Sources: Wikipedia (CC BY-SA)
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Commentary
Commentary